---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-22-001473"
form_type: "8-K"
ticker: "CAR"
cik: "0000723612"
company_name: "AVIS BUDGET GROUP, INC."
filed_at: "2022-04-22T23:59:59+00:00"
generated_at: "2026-06-26T05:29:49.736882+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# EVP & Chief Digital and Innovation Officer Veresh Sita resigns effective May 13, 2022

## Summary
- Cash severance of approximately $1M plus prorated 2022 annual bonus.
- Acceleration of 6,871 time-based restricted stock units; all other unvested awards canceled.
- Subject to non-competition and non-solicitation covenants for two years following separation.
- Entitled to continued company car usage for one year after separation.

## SEC filing metadata
- accession: 0000950142-22-001473
- form_type: 8-K
- ticker: CAR
- cik: 0000723612
- company_name: AVIS BUDGET GROUP, INC.
- filed_at: 2022-04-22T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723612/000095014222001473/0000950142-22-001473-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723612/000095014222001473/eh220233563_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-22-001473
- JSON: https://secwatch.observer/filing/0000950142-22-001473.json
- Plain text: https://secwatch.observer/filing/0000950142-22-001473.txt

## Key facts
- Executive change
  Veresh Sita resigned as Executive Vice President and Chief Digital and Innovation Officer at AVIS BUDGET GROUP, INC..
  - Action: resigned
  - Role: Executive Vice President and Chief Digital and Innovation Officer
  source text: Veresh Sita entered into a separation agreement (the “Separation Agreement”), pursuant to which Mr. Sita will resign from his position as Executive Vice President and Chief Digital and Innovation Officer of the Company effective May 13, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/723612/000095014222001473/0000950142-22-001473-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.